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Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.â€

More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves

Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees and expenses.†The announcement continues:

The company used the proceeds from its $1.05 billion convertible note offering which it completed last week to purchase the additional bitcoins.

The pro-bitcoin CEO Michael Saylor explained that his company “remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.â€

The amount of bitcoin the company holds reaffirms its “belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,†Microstrategy explained.

What do you think about all the bitcoins Microstrategy has been buying? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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